Credit Vs Debit Card 🥊
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- Опубліковано 27 вер 2024
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Debit cards, with the right bank, have amazing fraud protection. My mom had 5k stolen, and the bank immediately disabled the card, notified her and paid her the money back.
What bank
How do they know someone else is using it
@@bd7326 just like a credit card you make purchases in bulk all a sudden or you make purchases you would usually never make
What bank
That's pretty cool! What bank was it?
In short, use credit cards, but be responsible with them! Pretend that you’re using it as if it was a debit card.
Great vid btw!
yes, and don't be fooled by the card limit because using it too much can hurt the score too
What if you only spend a small amount every month? Eg. living with your parents so no rent and food expenses, seldomly buy items online/in stores, etc..
@@faisfaizal5194 even better, banks love that you use only a small % of ur limit
What if I'm from any other country on this planet and credit score doesn't exist here?
If you cant buy it with a debit card, you shouldn't buy it with a credit card.
As a teen myself, I will say this again and again: teenagers and kids should only have debit.
uhh, from what i know, at least in the United States, you aren't allowed to have one in most places till your 18? You can't build credit till 18 years old from my knowledge. Could just be where I'm from and have been though.
@@chrissyoons yeah that makes sense. But if a certain country allows kids to have credit cards I'm concerned 😟
@@theblackrainbow need to look up but in most case its a there is a X (like 100-200 usd) credit limit.
usually applied to the debit card.
that you can activate for emergency.
like I can go negative buying train tickets but I can´t go negative buying a chair at the furniture store.
As a teenager, I agree as well. Even though I have both a credit and a debit card.
yea im 13 have cash app card i wish i had credit though
I still got 30 thousand dollars in credit card debt!
-Petet Griffin
Great reference
Nope.
I've had money stolen out of my account. My bank refunded me.
And most banks will. It's amazing that people get this wrong.
personally i would prefer my money doesnt get stolen at all but thats just me
But you don't have access to your money until that is resolved. So if it happens right before a bill is due, good luck.
@@jacobg8640- not necessarily. If your bills are on direct debit, you're fine. And I can withdraw cash by requesting a one off code in the app for cash machines.
Easy.
everyone keeps saying only credit cards let you reverse transactions but I’ve had my debit card stolen many times and always got the charges reversed 🤷♂️, some banks are just better than others.
I would trust a credit card more, because its not your money.
V stock Ethereum classic crypto,
I think you gotta take better care of your damn cards
@@stickysquad9914 If u get card use service like Curve to combine it into one card and then just carry one
In my country, everybank even american banks won't let u reverse any transaction even the fraud one on debit or credit account. It's all customer fault and we have to pay for it.
It's way simple to say :"If you're responsible, use a credit card, if you're not, use a debit card."
Where are all the cons to a credit card and the pros to a debit card?
He did give the cons of credit. You rack up debt if you don't pay. Otherwise, there aren't many downsides to speak of
Debit similarly doesn't have that many advantages other than what it shows at face value. It's more similar to paying in cash and that's about it
Actually credit card give u more perks than debit, such as 0% instalment, discount, point, miles as long as u make full payment on time.
never underestimate how debilitating missing credit card payments can be tho, literally financial ruin that you may never be able to get out from under. altho building credit can be good.
I would not use credit cards because I'm irresponsible
Debit cards just feel more rewarding to use because it’s not money borrowed from a bank you’ll have to pay back after use, i’d rather use credit as a last resort I don’t care about benefits if i’m gonna lose money at the same time. Get out and STAY OUT of debt
Generally, I think a debit card is better because of interest rates
30000 dollars in credit card debt
When they call i say i cant pay it back yet
@@gxzg5188 tommorow i may buy myself a dining room set, or this boba fett
@@luisafonso8702 credit card debt, credit card debt
@@Andre-me2oq credit card debt
-family guy: season 12 episode 7
Me: *why not both?*
because there is no benefits to debit cards. they are absolutely worthless. use a good rewards card with tons of fraud/liability protection that is literally paying you while you spend money. some even have referral programs. made 500$ in the last few months referring people to good credit cards that i personally use for the awesome benefits.
@@raiden3013 in exchange for data
@@raiden3013how old r u? Your acting like a kid rn
with a clown response like that from you, older than you. i hope you grow up some day. @@President_jack
@@raiden3013 all of what you've just said is a myth, infact debit cards in Oceania while they don't have certain benefits in person, we do get discount deals in app but you have to start them and their free.. you can cancel any and all transactions and set a pin spending limit, you can also cancel a card and get mailed a new one in 2-4 days. I'm about to be student debt free at 19 years old never buy into the scam that is a credit card its just not worth it.
Don't support bank interest rates. Stop using credit cards.
💀 clown
Pay off the debt with the credit card infinite money glitch
I'm so fucking glad I live in a country where credit card aren't even ALLOWED
Americans are so obsessed with credit cards and most survive on them. It's insane to the rest of us who knows debt is debt no matter how you excuse it. Also where I grew up if you can't afford something you do not buy it. Let alone use it for basics such as groceries. Little wonder Americans are in such personal debt.
@@KittyKat-vb1ndokay and?
@@KittyKat-vb1ndits so true.they really are obsessed and i think the banks use these,"perks" just to get people in debt.
Here in Germany we mostly use debit cards if we not pay with Cash😂
Ofc the Germans are better with this stuff. Americans have been lied to by credit company
How do German banks judge who gets loans then?
@@jakecortez4795Not in Germany, but in Czechia (smaller counter on the east of Germany) has something called BRKI (Bank Register of Client information) and NRKI (Non-Bank of Client information) and there is any loan, late payment or debt active in the last 5 years (i think). When asking for loan, you have to fill in a form with all information about your education, financial situation, housing.., and after that the bank looks into those said registers and calculates whether or not to borrow you money and at what interest.
Credit cards can actually hurt you if you ask for morgage, since they are taken as a loan. That means if you have CC with 500$ limit, the bank looks at you as if you were 500$ in debt permanently. Some banks take CCs more seriously and some less.
It's the same in New Zealand, most people use a debit card for day to day transactions and purchases.
I think some clarification that needs to be made is most debit cards *do* provide fraud protection, however it generally has a limit of how much the bank will cover while as normally banks we cover any amount of purchases with a credit card.
Debit cards are good for saving accounts but yea a credit card is better for normal use.
I mean its almost like people dont know you can immediately block your debit card whenever.
You only need a credit card for big purchases. Debit cards work just fine for daily transactions.
Just remember that when you pay with a credit card, the credit company takes 3% of that transaction as a fee. That's why some businesses will charge that fee to the consumer as a surcharge.
The most I ever had on a card was 3-5k, if they raise it, cause you can't pay the payments, you can always lower what you owe through debt help or poverty relief.
Debit Cards come with Fraud Protection too.
I don't know why some people are saying they don't.
I treat one of my main credit cards like a debit card, I pay it off each Friday in full instead of monthly. Always worked for us. Put everything on it for that week.
He said it all. Use it if you have money 🤪🙄😔
Ppl be screenshotting this mans cards
You don't need a score if you're buying the house with cash
No one’s buying a house with cash these days look at the market. People pay loans to live in appartments
I use my credit card like my debit card.
I think credit card comes wit a con of having to spend a big amount at once. You can keep track of how much you spend in each place and how much you spend a month but otherwise you don't really know how much you have in your account, because you have to pay your credit card bill.
I like as long as you don't have a country with actual credit cards you do not ever need them seeing as credit is not a thing, a big background check and downpayment is
Can you get a debit card for kids to teach teens finances though?
Greenlight
Sadly I live in the Netherlands where almost no places accept credit cards. Not even many online stores accept them, just iDEAL, which uses your Dutch bank account to make a purchase
Good for you
I like the fact that credit card builds up the credit to get loans and it leads to debt if not used properly then why the other one is called debt card maybe to confuse people like debt means bad and credit means good subconsciously just a guess
The biggest pro towards credit card is that companies that sell your products increase their prices 2 to 3% to account for credit card fees. If you were using a debit card you’re paying 2 to 3% more per item than somebody using a credit card.
A debit card if you can’t control your emotions and if you’re really strong mentally then get a credit card.
I love debt cards. Don t owe anything back and can spend your own earned money.
I use a debit card and was able to make 60k a year and buy my house in full, buy my car in full, and not have any debt or loand
Don't actually touch your credit cards get it to pay monthly bills instead so your not buying random crap with them.
I have a debit card but I can always lock it with the app to prevent purchases that aren’t mine for happening
One of my debit cards is like that.i also get notifications whenever the card is used.
Guy got a cheap suit from salvation army and thinks he's a finance prodigy.
Credit card but be responsible with it
I rather use debit card from my account because bank credit card debt will be expensive but sadly debit card doesn't let you get protection on your account
Debit cards can have debits reversed too it’s part of the requirements to use the Mastercard and visa networks
Not to mention bonuses like cashback on a credit card
They both have their uses
It's wrong you have to become a serf to prove you can be trusted with a loan.
They both serve different purpose so you can't compare the
credit card can do uno reverse 😂
Plus, you can rack up points to use
He is sales man of credit card.
I have a credit card that has only my wage on it.
The funny thing is when your using credit cards or debit cards you spend way to much because you don't use cash if you used cash you wouldn't spend as much.
Thank you for explaining these, it took me months and i still can't tell the differences!
Actually a debit card from any reputable bank has fraud protection too.
The Quality Is So Amazing I’d Love To See A Video Of Your SetUp And Also Thx 4 The Tips
But doesn’t the credit cards have interests? For example you pay something for $100 and later pay back like $110?
You only pay back more if you have an outstanding balance (you didn't pay your balance when it's due), or if you bought on installments with > 0% interest. However, the credit card is more likely to have (fixed) monthly/yearly service charges, insurance (for the bank/lender in case you die), and in some countries even tax proportional to your due balance.
On the flip side, you can't buy in installments using a debit card.
@@docontra4921 oh, thanks for letting me know
Some banks will automatically pay that required minimum monthly debit from the same credit card. Try ING.
Money is king 🤴
Wow bro such a cool blue card, can I see the back too
Lmao
I got scammed, get this, 50$ by my local pizza shoppe. In 3 business days im getting my refund. Why? Credit card. What do i do now? I order more pizza, but for pickup, pick it up, then cancel it. Im going to eat free of charge another 5 times before i let it slide. Thanks to the bank.
I dont need courtrooms or hurting people no more :) i love being a good citizen
Me: Why have one, if I can have both?
Debit card with small amount
In simple word if u have steady income credit card is better.
There both equally as useful why is their a debate
There are also debit cards that are balance based and will decline transactions if there isn‘t enough balance. Especially if you have a AmEx, having a MasterCard debit can be good if AmEx isn‘t accepted at some place.
I don't see how reverting payments is benefit of only credit card, you can also revert payment of debit card.
Just use the credit card kinda like a safety card or something
Use Debit on smaller purchases, credit on bigger.
Me who isn’t old enough for a credit card: *Cries*
Theres always debit with the right bank
@@Tacomies446 I know. All banks have debit.
Are you older than 14
and you have access to a debit card?
@@ninjashuriken i have one and im 14
Nah bro u got to use ur credit card for the cashbacks, credit score and all, and then pay the credit card debt with ur debit card 🤣
Just use both
All investments in canadian banks come with protection under federal law. It may take a few days but you will get your money back. Now if you have automatic debits due to come out during those days you may have to work with the payee about it. But given a heads up its in the interest of them to keep you happy as a customer and offer a one time waiver of NSF fees. If not your bank should cover them due to fraud outside your control. They certainly should not charge you for it either. Legally required or not, they ought to do so.
As a tween I have a credit card that acts as a debit card. I can't go over then the money that I have. it just declines.
Imo credit cards are just worse cause I can’t directly see if I can still afford something
In Egypt we have the both in one card
I have 2 debit cards,and both do have fraud protection.
Keyword:Responsible
You can also get pre paid credit cards which is good for when your younger and new to credit cards, how they work is that each month you put a set amount on it from money in your bank account you get all the perks of credit cards without having to worry about credit card devt
Credit score isn’t a thing in every country. Where i live there’s no such thing.
Then how do they judge who gets loans
Kinda only applies if u live in the US
So basically in credit card you just take money then pay it off and do it every single month and with debit you pay off and then take the money, if you have credit card you got scammed
Debit card Is more better you don't need to worry about loan!. Remember to lock your card.
Yeah, let's settle the *debit*
or just use both if possible...
I’m not responsible enough
Debit cards
Always only sometimes use a credit card
I just saw his credit card number.
Too bad there’s very few credit card options in Australia. I’ve been using an AMEX for the last 5 years, but I’d love to have more with better perks, but they’re just not popular in AU 🇦🇺💳
Are there many in NZ? 🇳🇿
Theres a limit to the normal AMEX card and a car in AU🇦🇺 is much expensive like 29k or smth
I will say that my debit card has better fraud prevention, better transaction insurance AND no monthly or yearly costs. Plus they make them with custom designs for free. They also don't charge interest on cash withdrawals...
Also good luck getting authorised for a useful limit on a credit card outside of the US, y'all have crazy limits.
Im sorry, but living in a place that doesnt rely on debt solely, i can 100% guarantee you how stupid and predatory the credit system is.
What.?
if you can’t buy it twice don’t buy it. Best tip for credit cards owners
As travelers, buying item oversea with cash and getting tax refund into credit card feels weird... We don't "borrow" money to the bank but why the refund sent into credit card?
I would say have both a debit card for general use especially for people who are more willing to spend money and a credit card purely for emergency situations where you are flat broke and need money
As long as you have the money to pay off the credit immediately I don't see any downside to a credit card whatsoever
Unfortunately I am still a minor so I am stuck with a debit card right now
Already knew it but it's good to have a second opinion.
You can take the money back with a Debit Card as well.
I love this mans videos
That's an alaska usa debit card. Have you been up here?